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Map
$999,000
●
Land -
For Sale
175 E 55th Street
East Flatbush, NY 11203
Studio
0 Bath
$5,194
Estimated Monthly
$0
HOA / Fees
1.03%
Cap Rate
About This Property
Nestled in the heart of a burgeoning neighborhood, 175 E 55th
Street presents an exceptional investment opportunity for astute
investors seeking prime real estate in a sought-after location.
Situated on a spacious plot of land measuring 40 feet by 100 feet,
this property boasts zoning approval for the construction of a
six-family home, offering lucrative potential for both rental
income and long-term capital appreciation.
Strategically positioned within a vibrant community, this
parcel of land offers convenience and accessibility, with close
proximity to essential amenities including schools, shopping
centers, dining establishments, and public transportation hubs. Its
central location ensures easy access to major thoroughfares,
facilitating seamless connectivity to neighboring districts and
beyond. The approved plans for a six-family home align
perfectly with the increasing demand for multifamily residences in
the area, catering to the evolving needs of modern urban dwellers.
Whether as a rental property or a condominium development, this
project presents a lucrative opportunity to capitalize on the
growing rental market or capitalize on the demand for residential
units in the area. Moreover, the property's favorable
zoning status streamlines the development process, reducing
regulatory hurdles and expediting construction timelines, thereby
maximizing returns on investment. Additionally, the dimensions of
the land offer ample space for landscaping, parking, and outdoor
amenities, enhancing the appeal and value of the proposed
development. In summary, 175 E 55th Street represents
a compelling investment proposition, combining an ideal location,
favorable zoning, and a robust market demand for multifamily
housing. With its potential for significant returns, this property
is poised to become a cornerstone asset in any investor's
portfolio. Don't miss out on the opportunity to capitalize on this
prime real estate offering in one of the city's most promising
neighborhoods.
Unit Size
-
Days on Market
42 days
Land Size
0.05 acres
Price per sqft
-
Property Type
Land
Property Taxes
$289
HOA Dues
-
Year Built
1910
Listed By
Last updated: 24 days ago (OneKey MLS #ONEH6295536)
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Mar 21, 2024 | Listed by WW Realty Group Inc | $999,000 | |
Listed by WW Realty Group Inc | |||
Mar 18, 2024 | Temporarily off market | - | |
Temporarily off market | |||
Jun 19, 2023 | Listed by WW Realty Group Inc | $999,000 | |
Listed by WW Realty Group Inc | |||
Feb 27, 2023 | No longer available | - | |
No longer available | |||
Dec 23, 2022 | Listed by Coldwell Banker LaBarca | $1,200,000 | |
Listed by Coldwell Banker LaBarca | |||
|
|||
EAST-FLATBUSH Great Residential Land for Sale. 5000 sq ft buildable
space. with approved Building Plan for a 6 Family building
available. Property is cleared and ready for building. Close to all
Transportations, shopping, Schools, Hospitals and many more. All
offers must be submitted in writing with Proof-of-Fund/Pre-Approval
Letter. Email to Agent at above email Address. Being sold as a
package deal with 177 East 55th Street
|
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Property Highlights
Exterior Details
Property Information
Property Type: Land
Property Sub Type: Unimproved Land
Lot Information
Lot Size Acres: 0.05
Lot Size Square Feet: 1999
Land Information
Water Source: Public
Financial Details
Tax Annual Amount: $3,462
Utilities Details
Sewer : Public Sewer
Location Details
County or Parish: Brooklyn
Other Details
Selling Agency Compensation: 1.5%
On Market Date: 2024-03-21
Building Info
Overview
Building
Neighborhood
Zoning
Geography
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Sold
Multifamily
4
Beds
3
Baths
-
$960,000
Jan 5, 2020
$960,000
Aug 31, 2020
$425/mo
Sold
Multifamily
7
Beds
3
Baths
-
$1,015,000
Aug 31, 2023
$1,015,000
Nov 20, 2023
$567/mo
Sold
Townhouse
5
Beds
3
Baths
-
$990,000
Dec 12, 2023
$990,000
Dec 27, 2023
$530/mo